Budget: Government announces to introduce livestock insurance scheme

Islamabad: The Finance Minister has said that government is going to introduce livestock insurance scheme for all farmers getting finance for upto ten cattle. This scheme will cover livestock insurance in case of calamity and diseases and will benefit one hundred thousand livestock farmers.

Finance Minister Ishaq Dar has stated this while presenting the federal budget 2014-15 in the national assembly on Tuesday. Federal budget with the total outlay of 3960 billion rupees has been presented in the National Assembly for the financial year 2014-15.

The Finance Minister said the government has specially designed a programme to provide housing credit to low cost housing units to enable the poor to have their own homes.

He said the banks will provide loans upto one million rupees for the scheme and the government will guarantee forty percent of the portfolio amount.

The scheme will cover all areas of Pakistan and twenty-five thousand loans worth twenty billion rupees will be provided through this innovative method of supporting low and middle income facilities. He said to expedite construction activities in housing sector, House Building Finance Corporation will be rehabilitated.

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